Speed Post News Network
New Delhi : The total collection under GST for the month of December 2017 was Rs 80,808 crore till December 25, 2017. Altogether 99.01 lakh taxpayers were registered under GST till December 25, of which 16.60 lakh are composition dealers which are required to file returns every quarter. Till December 25, altogether 53.06 lakh returns were filed for the month of November 2017.
Revenue of States: Of the Rs 80,808 crore collected under GST for the month of December, 2017, Rs. 13,089 crore have been collected as CGST, Rs 18,650 crore as SGST, Rs 41,270 crore as Integrated Goods and Service Tax (IGST) and Rs 7,798 crore as Compensation cess.
Further, Rs. 10,348 crore is being transferred from IGST to CGST account and Rs 14,488 crores is being transferred from IGST to SGST account by way of settlement of funds on account of cross utilization of IGST credit for payment of CGST and SGST respectively or due to inter-state B2C transactions. Thus, a total amount of Rs 24,836 crore is being transferred from IGST to CGST/SGST account by way of settlement, according to a PIB release. Thus, the total collection of CGST and SGST for the month of December, 2017, is Rs 23,437 crores and Rs 33,138 crore respectively including transfers by way of settlement.
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